Investment Analysts’ Weekly Ratings Changes for Hormel Foods (HRL)

Hormel Foods (NYSE: HRL) recently received a number of ratings updates from brokerages and research firms:

  • 11/27/2018 – Hormel Foods was downgraded by analysts at Jefferies Financial Group Inc from a “buy” rating to a “hold” rating. They now have a $44.00 price target on the stock.
  • 11/21/2018 – Hormel Foods was given a new $39.00 price target on by analysts at Credit Suisse Group AG. They now have a “hold” rating on the stock.
  • 11/21/2018 – Hormel Foods was given a new $40.00 price target on by analysts at Barclays PLC. They now have a “hold” rating on the stock.
  • 11/13/2018 – Hormel Foods had its “sell” rating reaffirmed by analysts at Zacks Investment Research. According to Zacks, “Tariffs on pork have made things tough for Hormel Foods, which saw its fresh pork export volumes suffer during third-quarter fiscal 2018. The company expects risks related to tariffs to remain a hurdle for fresh pork exports. Also, weakness in the pork commodity market compelled management to trim its sales view. Moreover, Hormel Foods continues to struggle with high freight costs, which are likely to linger. Persistence of such headwinds are likely to eclipse the company’s price performance, which has outpaced the industry in the past three months. Notably, the company’s advertisement investments are yielding, evident from improvements in brands like Skippy and Natural Choice among others. Also, recent buyouts of Columbus Craft, Fontanini, and Ceratti are set to continue driving sales. These factors encouraged Hormel Foods to retain its earnings view despite freight woes, adverse currency movements and volatile commodity prices.”
  • 11/6/2018 – Hormel Foods was downgraded by analysts at Vertical Group from a “hold” rating to a “sell” rating. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 11/6/2018 – Hormel Foods was given a new $50.00 price target on by analysts at Piper Jaffray Companies. They now have a “buy” rating on the stock.

Shares of Hormel Foods stock opened at $45.54 on Tuesday. Hormel Foods Corp has a 1 year low of $31.71 and a 1 year high of $46.26. The firm has a market cap of $24.04 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 2.95 and a beta of 0.13. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.80 and a quick ratio of 0.95.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Tuesday, November 20th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.02. Hormel Foods had a return on equity of 18.01% and a net margin of 10.60%. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the firm posted $0.41 EPS. The company’s quarterly revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts forecast that Hormel Foods Corp will post 1.84 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Monday, January 14th will be issued a dividend of $0.21 per share. This is an increase from Hormel Foods’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, January 11th. This represents a $0.84 annualized dividend and a yield of 1.84%. Hormel Foods’s dividend payout ratio (DPR) is currently 39.68%.

In other Hormel Foods news, VP Gary Jamison sold 8,000 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $39.75, for a total transaction of $318,000.00. Following the completion of the sale, the vice president now owns 15,949 shares of the company’s stock, valued at approximately $633,972.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dakota A. Pippins sold 1,750 shares of the firm’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $39.59, for a total value of $69,282.50. Following the sale, the director now directly owns 91,797 shares of the company’s stock, valued at approximately $3,634,243.23. The disclosure for this sale can be found here. Insiders have sold a total of 125,048 shares of company stock valued at $5,303,643 in the last ninety days. Insiders own 1.48% of the company’s stock.

A number of institutional investors have recently made changes to their positions in HRL. Capital International Investors lifted its holdings in Hormel Foods by 115.0% during the 3rd quarter. Capital International Investors now owns 18,956,177 shares of the company’s stock valued at $746,873,000 after purchasing an additional 10,137,498 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in Hormel Foods by 45,760.7% during the 2nd quarter. Macquarie Group Ltd. now owns 6,191,200 shares of the company’s stock valued at $230,375,000 after purchasing an additional 6,177,700 shares during the last quarter. Capital Research Global Investors lifted its holdings in Hormel Foods by 24.2% during the 3rd quarter. Capital Research Global Investors now owns 8,971,281 shares of the company’s stock valued at $353,468,000 after purchasing an additional 1,745,144 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Hormel Foods by 28.6% during the 3rd quarter. Victory Capital Management Inc. now owns 4,910,525 shares of the company’s stock valued at $193,474,000 after purchasing an additional 1,093,493 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Hormel Foods during the 3rd quarter valued at $24,162,000. 42.28% of the stock is owned by institutional investors and hedge funds.

Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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